Welcome, I am writing these blogs for you to read just as much as I am writing them for myself. As a trading analyst it helps me too.
If you are just beginning to venture into the world of trading, then you most likely have been inspired to take this step because either a friend has made some great profits and tells you how simple it really is. Or perhaps you see trading as a new challenge have will put a spark back into you life as well as money into your pocket. Then again you may think of it as just a hobby that will fill in some spare time you have after work. Whatever your reason is, let me tell you that over the next few blogs what you are likely to run into as you dip your toes into the boiling waters of greed , hope, fear and sleepless nights.
You may already be trading and experiencing these symptoms so in that case all the more reason to allow me to explain how to firstly recover your composure, then I will bring your true sense of balance back to normal.
I will endeavour to set your mind at ease about why and how to overcome the emotional roller coaster of trading. Quite often the first problem to overcome is the time and money dilemma it is as we all know a very important ratio. Everyone has a different uptake when it come to acquiring new skills and of course you don't want to loose to much money, if any in getting those skills embedded into your mind. The reason most people loose money in the market is because they expect to much to soon or they think they are smarter than the market and can preempt the next big move. It is a numbers game however, but you need to learn your abc.... first. both forwards and backwards. Then you can move across to learning how the numbers convey information relative to the markets position, which of course is related to the whole of the global market not only our local market. Certain numbers also reveal the future direction in which the market will move including the high and low points and if your lucky enough a closing price. Any of you who have watched the market closely enough will have seen a strange occurrence of number patterns. We all wish we knew what they meant but it's way to complex for most people to get their minds around. Or should I say most people give up to early in learning what it all means. However I on the other hand have spent many years learning how and why these numbers are so important, they are like pop ups which can tell all about what the market is locked into doing. By the way none of my analysis is done by computer it is a manual technique. If you can add and subtract, then that's all you need to do, the rest is just a matter of applying the basic abc... rules.
Let me leave you with this thought the amount of time you spend on any project whether it be building a garage or planning your next trade. If the garage takes you 4 hours to build, then falls down after a windy day you may feel a bit annoyed about it right? however if it took 5 weeks to build and 1 day later it collapses your going to let more emotions come into play like embarrassment, anger, resentment, etc. The same with trading, my aim is to show you how to overcome this problem and trade as I do based on the cold hard facts that you can swear by. okay?
The market is just like a moving target that you are shooting at, it's of utmost importance that your measuring points are stable and reliable. For the chartist this is where experience comes into play. I had been trading previously using charts and found that this was there greatest downfall.
It is therefore imperative that you have cold hard facts about trading for example you need to realise that the market is always a buy and a sell for any 2 traders, however a profit will only result depending on their timing of exit or locking in of a profit during a long move.
If you have a creative mind and are able to think outside the square and the circle as well as the dollar sign then you should follow me.
However if you feel a desperation to make money then it's better that you spend your time and effort on sometime else other than trading but thanks for reading this blog.
